I mentioned yesterday how unrealistic the president’s recent economic growth projections are. Here is a chart to illustrate this point. The red line represents GDP growth for the next ten years from Obama’s FY2011 budget, table S-13.

According to this data, while GDP grew at -1.4 percent in 2009, it is suddenly projected to grow at 3.6 percent nominally in 2010 and at 6 percent the following year.

If you look at the year-to-year changes in GDP growth rate, you will note the huge jump in the projected growth rate in GDP in 2010 on the chart. You can see that by these projections assume that economy growth will accelerate at the fastest rate since 1983. Also, there have not been sharp changes in the rate of GDP growth since the volatile period in the 1980s, where the sharp angles are. After that period, the line is smooth with gradual changes in the growth rate.

This seems to also suggest that it is unlikely that GDP growth rate will suddenly jump in 2010.

Need more evidence that the president is dreaming these numbers to make his budget deficit look better? According to NPR.org this morning:

The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce.

The whole thing here.